Factbook
History of Iceland — Timeline
Key dates in the history of Iceland, from the Magna Factbook and the Universal Encyclopedia.
1874Denmark granted limited home rule in 1874 and complete independence in 1944.
1875Fallout from the Askja volcano of 1875 devastated the Icelandic economy and caused widespread famine.
1918Independence: 1 December 1918 (became a sovereign state under the Danish Crown); 17 June 1944 (from Denmark; birthday of Jon SIGURDSSON, leader of Iceland's 19th-century independence movement).
1994The economy diversified greatly after the country joined the European Economic Area in 1994, but the global financial crisis hit Iceland especially hard in the years after 2008.
2018Major urban areas: 216,000 REYKJAVIK (capital) (2018) high-income North Atlantic island economy; not an EU member but market integration via European Economic Area (EEA); dominant tourism, fishing, and aluminum industries vulnerable to demand swings and disruption from volcanic activity; inflation remains above target rate; barriers to foreign business access and economic diversification Inflation: 5.9% (2024 est.).
2023Generation mix — hydroelectricity: 70.1% of total installed capacity (2023 est.); geothermal: 29.9% of total installed capacity (2023 est.) Airports: 82 (2025).
2023Industries: tourism, fish processing; aluminum smelting; geothermal power, hydropower; medical/pharmaceutical products Agriculture: milk, chicken, lamb/mutton, barley, potatoes, pork, beef, eggs, other meats, cucumbers/gherkins (2023) Electricity access: 100% (2022 est.).
2023Languages: Icelandic, English, Polish, Nordic languages, German Religions: Evangelical Lutheran Church of Iceland (official) 58.6% Roman Catholic 3.8%, Independent Congregation of Reykjavik 2.6%, Independent Congregation of Hafnarfjordur 1.9%, pagan worship 1.5%, Icelandic Ethical Humanist Association 1.4%, other (includes Zuist and Pentecostal) or unsp Urban population: 94% of total population (2023).
